Cairo – Mubasher: The Egyptian Exchange ended Sunday’s trading session on a mixed note amid a selling wave by Arab investors and lower liquidity ratios.

The total market value lost around EGP 2.7 billion to finish the session at EGP 401.1 billion against EGP 403.8 billion on Thursday.

The benchmark EGX30 shed 45.02 points or 0.60% to settle at 7486.13 points.

CIB, the largest EGX30 constituent, declined 0.3% to EGP 42.6 at close.

“Juhayna, Edita, and Telecom Egypt were the only EGX30 stocks to end the day higher as they gained 1.2%, 1.0%, and 0.8% respectively,” said Pharos Research in the daily market commentary.  

Meanwhile, Eastern Tobacco, Global Telecom, and Arab Cotton Ginning were the worst performer with a slide of 4.1%, 3.3% and 2.8% correspondingly.

EGX30 is thus moving sideways on the short term between the support level of 7,300 points and the resistance mark of 7,700 points, said Mohamed Ismail, technical analyst at Golden Hand Securities, adding that re-testing the support area of 7,300 is coupled this time with lower liquidity ratios, indicating all in all to a poor buying appetite in the stock market.

The small and mid-cap index rose 0.14% to 374.18 points.

The broader index EGX100 closed 0.14% lower to 783.98 points.

Egyptians were net buyers by EGP 3.6 million, while Foreign and Arab investors were net sellers by EGP 471,500 and EGP 3.2 million.

Trading value stood at EGP 208 million after 79 million shares were traded over 10,600 transactions.

Golden Coast Company, International Company for Investment & Development, and Samad Misr led the advancers with a rise of 5.70%, 5.07%, and 4.56% respectively.

On the negative note, the top losers were Development & Engineering Consultants (-8.07%), Saudi Egyptian Investment & Finance (-7.87%), and Sabaa International Company for Pharmaceutical and Chemical (-5.80%).